USD/CNH bulls approach 7.1800 as PBoC rate cut contrasts with hawkish Fed bias – by anilpanchal7 USDCNY PBOC Fed RiskAversion China
rly Tuesday. That said, the offshore Chinese Yuan renews intraday high near 7.1770 by the press time.
Apart from the PBoC rate cuts fears of China’s slower economic recovery and the downward growth forecasts from the top-tier banks, including Goldman Sachs and JP Morgan, seems to also propel the USD/CNH price of late.
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